Guinea secures USD60m investment to improve internet access

The Guinean government has secured USD60 million from the World Bank to improve internet access in the country, Guinee360 reports. The Ministry of Posts, Telecommunications and Digital Economy confirmed last Thursday that the funding is being provided as part of the World Bank’s Digital Transformation for Africa/West Africa Regional Digital Integration Program (DTfA/WARDIP). This project...

Group Lauds $34.82bn Investment For Africa’s Development

The Citizens Watch Advocacy Initiative (CWAI) has lauded the Africa Investment Forum (AIF) outing in Marrakesh, Morocco, which witnessed a record-breaking $34.82 billion investment interest for projects across Africa in a groundbreaking effort. Project developers and investors looked at investment opportunities in several areas, including food and agriculture, renewable energy, mining, transport corridors, aviation, deep-water...

West African Development Bank and Africa Finance Corporation form strategic partnership to drive economic development

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, and the West African Development Bank (BOAD), a regional financial institution mandated to drive economic unity and advancement in West Africa, yesterday announced a strategic Memorandum of Understanding (MoU), solidifying their joint commitment to promote infrastructure and economic progress across Western African states. Signed...

Nigeria’s ICT sector losing investment

Despite being the main driver of the country’s economic progress for more than five years, Nigeria’s Information and Communication Technology (ICT) Sector is beginning to decline. According to Cardinal Stone Research experts, the slowdown is due to decreasing capital expenditure or capital expense intensity among key telecommunications operators. The industry recorded its lowest real-term growth...

Convergence Partners wants to drive infrastructure development in Africa with $296 million fund

In this edition of Ask An Investor, TechCabal spoke to Andile Ngcaba, chairman of Convergence Partners, about the state of digital infrastructure in Africa. In January, Convergence Partners, a pan-African ICT investment firm, announced that it closed its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million, surpassing its initial target by over 18%. The fund was backed...

MTN Uganda Contributes UGX 36 Billion to Boost Communications Services in Underserved Areas

MTN Uganda donates UGX 36 billion to Uganda Communications Universal Service and Access Fund for digital expansion. MTN Uganda has boosted the Uganda Communications Universal Service and Access Fund with UGX 36 billion for the year 2023 towards extending communications services to the underserved and unserved areas. All licensed telecom operator’s telecom in the country...

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